Teachers Retirement System of The State of Kentucky Has $55.33 Million Position in Chubb Limited (NYSE:CB)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Chubb Limited (NYSE:CB) by 6.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 216,894 shares of the financial services provider’s stock after selling 15,176 shares during the period. Chubb accounts for about 0.5% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 24th largest position. Teachers Retirement System of The State of Kentucky’s holdings in Chubb were worth $55,325,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Pathway Financial Advisers LLC bought a new position in Chubb during the 1st quarter valued at about $25,000. Beacon Capital Management LLC lifted its holdings in Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Chilton Capital Management LLC bought a new position in Chubb during the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new position in Chubb during the 2nd quarter valued at about $28,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in Chubb during the 4th quarter valued at about $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Down 0.4 %

Shares of NYSE CB opened at $288.39 on Tuesday. The stock has a market cap of $117.10 billion, a P/E ratio of 12.80, a P/E/G ratio of 5.74 and a beta of 0.66. The firm has a 50 day moving average price of $279.09 and a 200 day moving average price of $264.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. Chubb Limited has a 52-week low of $204.15 and a 52-week high of $294.18.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. The firm had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.92 earnings per share. Analysts expect that Chubb Limited will post 21.21 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

Analyst Upgrades and Downgrades

CB has been the subject of a number of research analyst reports. Bank of America boosted their target price on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Barclays initiated coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. Finally, Royal Bank of Canada boosted their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chubb has a consensus rating of “Hold” and a consensus price target of $274.70.

Insider Activity

In other news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the transaction, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. The disclosure for this sale can be found here. Insiders sold 86,636 shares of company stock worth $24,874,208 over the last quarter. 0.86% of the stock is currently owned by company insiders.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.